Bill Barrett (BBG +5.2%) moves up this morning after Morgan Stanley initiates coverage with an...

|About: Bill Barrett Corporation (BBG)|By:, SA News Editor

Bill Barrett (BBG +5.2%) moves up this morning after Morgan Stanley initiates coverage with an Overweight and a $30 price target. Morgan says the stock has a compelling risk-reward profile, with a strong likelihood that it transforms from a high-cost gas producer into an oil company with deep inventory. At current levels the stock offers cheap exposure to gas, trading at just 6.1x 2013e EBITDA versus 9.6x for its peers.